When you’re running a fast-paced retail business, you need technology that can help you manage all of your business processes in an efficient manner that doesn’t cost you time and money.
As an outdoor retailer, you’ve got a lot on your plate, including keeping track of inventory, rentals, and repairs, as well as attracting more customers to your store. Fortunately, there’s one solution that turns all those challenges into successful ways to stop revenue loss, drive foot traffic, provide a seamless online / in-store customer experience, and increase store revenue.
3 Challenges Outdoor Retailers Can Overcome With One Tool
1. Inefficient Inventory Management
It can be difficult to find the time to keep your inventory updated when you’re also juggling the maintenance of your company website, managing social media, and dealing with the day to day tasks of running a store.
Inventory management becomes especially challenging if your website and point of sale are completely separate systems. It means you have to enter everything twice, whether you’re uploading new hiking products or selling camping equipment you have in stock. No retailer has time for that, not to mention the fact that it’s an inefficient process that can cost you money.
“Business processes ensure the smooth operation of any organization. However, if your company has even one bad process, it can affect your overall profitability and hinder your ability to accomplish your goals.”
Fortunately, it doesn’t have to be that way! With an integrated POS and E-commerce system, you can add product information in one place and your POS and website will update simultaneously. If you sell an item, it’s automatically reduced from your online and in-store inventory, just like that. No double or triple data entry functions necessary.
In addition to inventory management being cut in half, you’ll benefit from an increase in foot traffic. Why? Because these days, about 87% of shoppers start their purchasing journey online. When your website represents an accurate view of your inventory, customers performing a local search for, say, a particular fishing pole you carry, can drop by your store and pick up exactly what they want.
Consistent, real-time inventory data reduces human error, which saves you time and money. Furthermore, accurate inventory across your online and off-line stores helps to build trust with potential and current customers and drive more foot traffic to your retail store.
2. Ineffective Rental Process
You may offer great rental services, but if you don’t have a way to accurately and efficiently manage them, you could run into problems. After all, there are a lot of moving parts in the rental cycle, from collecting user details and creating rental packages to setting rental periods and determining late fees.
An all-in-one POS & E-commerce solution can help you effectively handle all aspects of rentals in-store, as well as make those rentals available to your online customers, too. When your rentals are online, it increases awareness of the services you offer, which can lead to increased store traffic.
One outdoor retailer found that their rental traffic increased because customers could easily set up their rentals online and have confidence that those items would be waiting for them at the store.
Inefficient rental processes can result in frustrated employees, lost opportunities, and upset customers, all of which can increase costs for your outdoor specialty business. That’s why it’s so important to invest in an all-in-one POS & website solution that streamlines the rental process for you and your customers.
3. Inadequate Repair Tracking
While offering repairs for outdoor equipment is definitely a valued service, it can come with its own set of challenges. As you know, you can lose money on labor and parts used in the repair service if it’s not tracked and billed properly.
Additionally, charging customers for parts used throughout the repair process can easily be missed or forgotten, not to mention the challenges that come from trying to track inventory items used for services and repairs so they’re always in stock (out-of-stock parts increase repair time and the customer’s wait time).
The fix? A repair tracker that’s built into your POS. This allows you to easily add parts and labor to the customer’s repair ticket in real time. That means you won’t lose money as a result of parts and labor not being properly tracked. In fact, every step in the repair process is tracked as you’re doing it so nothing is left out. Plus, you can send text notifications to the customer with repair updates.
By using a POS with a built-in repair tracker, you’ll save time, increase efficiency, and keep customers happy in the process.
“One of the best ways to maximize the profits of your business,” says Tech.Co, “is to cut down on the amount of money you lose.”
Even if you have an awesome selection of outdoor recreation products and accompanying services that are top sellers, your losses can still affect your bottom line.
One way you can reduce costs for your retail store and start maximizing your profits is to invest in an integrated POS & E-commerce system that streamlines as many of your business processes as possible.
With your day to day business processes running at maximum efficiency, you’ll have more time to focus on the growth of your retail business.
Life gets easier when your POS is integrated with your website. All of your inventory—online and in your store—is updated automatically every time you add or sell an item. Plus, real-time inventory builds trust with potential customers and drives foot traffic!
Also published on Medium.